Gogo Inc. (GOGO) Financial Statements (2024 and earlier)

Company Profile

Business Address 105 EDGEVIEW DR., SUITE 300
BROOMFIELD, CO 80021
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4899 - Communications Services, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments175,346145,913435,345170,016223,478409,148
Cash and cash equivalents150,550145,913435,345170,016184,155196,356
Short-term investments 24,796   39,323212,792
Restricted cash and investments  255255601,535 
Receivables54,21039,66639,833101,360134,308117,896
Inventory, net of allowances, customer advances and progress billings49,49333,97628,114117,144193,04545,543
Inventory49,49333,97628,114117,144193,04545,543
Prepaid expense    11,2997,755 
Contract with customer, asset, after allowance for credit loss6,4944,5332,41712,36410,423
Other undisclosed current assets38,60625,8015,99212,08214,98220,310
Total current assets:324,149249,914512,226424,825585,526592,897
Noncurrent Assets
Operating lease, right-of-use asset75,26170,98933,69063,386
Property, plant and equipment104,59563,67263,493560,318511,867656,038
Intangible assets, net (including goodwill), including:49,50949,55452,69376,49983,49187,133
Goodwill600600600600600600
Intangible assets, net (excluding goodwill)48,88948,93452,07375,87982,87186,513
Other undisclosed intangible assets, net (including goodwill)202020202020
Deferred income tax assets162,657185,133  
Other noncurrent assets43,35528,42511,48689,67284,21267,107
Total noncurrent assets:435,377397,773161,362789,875679,570810,278
TOTAL ASSETS:759,526647,687673,5881,214,7001,265,0961,403,175
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities73,70277,07194,022191,271236,319228,945
Accounts payable13,64617,20311,01317,16023,86027,130
Accrued liabilities60,05659,86883,009174,111212,459201,815
Deferred revenue3,4181,8253,11334,789
Debt7,250109,620341,0006206521,789
Deferred revenue and credits43,448
Other undisclosed current liabilities    25,96262,71642,096
Total current liabilities:84,370188,516438,135252,642299,687316,278
Noncurrent Liabilities
Long-term debt and lease obligation690,173772,089865,9861,179,0561,025,0931,001,968
Long-term debt, excluding current maturities690,173694,760827,9681,101,2481,024,8931,000,868
Capital lease obligations2001,100
Liabilities, other than long-term debt86,8527,23610,58146,49380,191134,655
Other liabilities7,6117,23610,58146,49380,191134,655
Operating lease, liability79,24177,32938,01877,808
Other undisclosed noncurrent liabilities    135,399128,886141,838
Total noncurrent liabilities:777,025779,325876,5671,360,9481,234,1701,278,461
Total liabilities:861,395967,8411,314,7021,613,5901,533,8571,594,739
Equity
Equity, attributable to parent(101,869)(320,154)(641,114)(398,890)(268,761)(191,564)
Common stock14119999
Treasury stock, value(158,375)(128,803)(98,857)   
Additional paid in capital1,385,9331,258,4771,088,590979,499963,458898,729
Accumulated other comprehensive income (loss)30,1281,789(1,013)(2,256)(3,554)(933)
Accumulated deficit(1,359,569)(1,451,628)(1,629,843)(1,376,142)(1,228,674)(1,089,369)
Total equity:(101,869)(320,154)(641,114)(398,890)(268,761)(191,564)
TOTAL LIABILITIES AND EQUITY:759,526647,687673,5881,214,7001,265,0961,403,175

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues404,067335,716269,718835,726893,764699,090
Revenue, net699,090
Cost of revenue(141,481)(109,515)(123,765)(553,538)(654,006)(492,723)
Gross profit:262,586226,201145,953282,188239,758206,367
Operating expenses(120,260)(105,575)(69,602)(245,464)(266,679)(270,629)
Operating income (loss):142,326120,62676,35136,724(26,921)(64,262)
Nonoperating expense(36,609)(151,267)(125,056)(181,722)(138,403)(109,730)
Investment income, nonoperating2,3861917224,2104,2922,964
Interest and debt expense(38,872)(83,961)(125,787)(57,962)(19,653)(111,944)
Income (loss) from continuing operations before equity method investments, income taxes:66,845(114,602)(174,492)(202,960)(184,977)(285,936)
Other undisclosed income from continuing operations before income taxes38,87283,961125,78757,96219,653111,944
Income (loss) from continuing operations before income taxes:105,717(30,641)(48,705)(144,998)(165,324)(173,992)
Income tax expense (benefit)(13,658)187,230146(1,006)3,2931,997
Income (loss) from continuing operations:92,059156,589(48,559)(146,004)(162,031)(171,995)
Income (loss) before gain (loss) on sale of properties:152,735(250,036)(146,004)(162,031)(171,995)
Loss from discontinued operations  (3,854)(201,477)   
Other undisclosed net income  3,854201,477   
Net income (loss):92,059156,589(48,559)(146,004)(162,031)(171,995)
Other undisclosed net loss attributable to parent  (3,854)(201,477)   
Net income (loss) available to common stockholders, diluted:92,059152,735(250,036)(146,004)(162,031)(171,995)

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):92,059156,589(48,559)(146,004)(162,031)(171,995)
Comprehensive income (loss):92,059156,589(48,559)(146,004)(162,031)(171,995)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent28,339(1,052)(200,234)1,298(2,621)1,230
Comprehensive income (loss), net of tax, attributable to parent:120,398155,537(248,793)(144,706)(164,652)(170,765)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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